Page 5 - Auto Demand

Steel firms prep for festivals, see demand by auto, consumer goods sectors

Bookings by the two industries 20% higher ahead of the festive season compared to last year, says one expert

Demand, strong SUV off-take propel domestic PV sales to record high in Aug

Domestic passenger vehicle sales hit a record in August led by highest-ever monthly dispatches from Maruti Suzuki on the back of festive demand and the continued strong offtake of SUVs. Hyundai Motor India, Mahindra & Mahindra and Toyota Kirloskar Motor also reported strong dispatches to dealers last month. Tata Motors, however, saw a dip in domestic passenger vehicle sales in August. "The month of August was a very good month for the industry. Passenger vehicle sales in August stood at 3,60,897 units. This is the highest ever monthly sales in any month in any year in the industry," Maruti Suzuki India (MSI) Senior Executive Officer (Marketing & Sales) Shashank Srivastava said. The previous highest for the industry was 3,55,400 units reported in September 2022, he added. The industry wholesales last month grew by 9.7 per cent to 3,60,897 units as compared with 3,26,980 units in August 2022, Srivastava said. In the April-August period, the industry sales crossed the 17 lakh ...

Tata Motors leads Indian EV market with a market share of 72%: Canalys

The sales of EVs in India jumped 137 per cent to 48,000 units in HICY23 as compared to H1CY22

SAMIL to acquire 81% stake in Honda Motor arm for Rs 1,059 crore

The Noida-based automotive (auto) parts maker said it expected this deal to close by the first quarter of 2024-25

Samvardhana Motherson International to acquire 81% stake in Honda Motor arm

Auto components maker Samvardhana Motherson International Ltd on Tuesday said it will acquire an 81 per cent stake in the four-wheeler business of Yachiyo Industry, a Honda Motor subsidiary. The company has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future and be fully prepared for next-generation products and technologies, Samvardhana Motherson International Ltd (SMIL) said in a statement. Yachiyo Industry Co Ltd is a publicly listed firm on the Tokyo Stock Exchange. It is a subsidiary of Honda Motor Co Ltd. It has four-wheeler (4W) and two-wheeler (2W) businesses. "As a part of the overall transaction, the 2W business will be transferred to Honda Motor before Motherson acquires 81 per cent stake in Yachiyo's 4W business," the statement said. In a regulatory filing, the company said the cost of acquisition is at an "equity value of JP

Maintaining its small-car dominance, Maruti leads mid-size PV sales in FY23

Maruti launched several vehicles in this segment last year. It now has popular offerings like the Grand Vitara, Brezza, and XL6 in its product lineup catering to this market segment

Expect PV segment growth to moderate to 5-7% this fiscal: Tata Motors

Tata Motors expects the passenger vehicle industry growth to moderate to 5-7 per cent in the current financial year as compared with 27 per cent sales growth in the last financial year with dip in pent-up demand, according to a top company executive. In order to sustain growth, the auto major is looking to introduce new products including CNG and electric models, while bolstering its existing range with new interventions. In an analyst call, Tata Motors Managing Director, Passenger Vehicle and Electric Vehicles, Shailesh Chandra noted that pent-up demand in the passenger vehicle segment has now clearly gone down, barring certain new launches in a few popular sports utility vehicle segments. He noted that due to pent-up demand and low inventory levels last fiscal, the industry reported a steep growth of 27 per cent year on year as compared with FY22. "This year (2023-24)...growth would be slightly moderate in the zone of 5 to 7 per cent. But I'm sure that beyond this financial year,

Passenger vehicle dispatches jumped 13% to 331,278 units in April: SIAM

Two-wheeler dispatches increased by 15% to 1,338,588 units in April

Apollo Tyres beats Q4 profit view on lower rubber costs, strong demand

Apollo's revenue from operations rose 12% to Rs 6,247 cr as the cost of materials consumed fell around 11.2% compared to the year-ago quarter

Maruti confirms launch of premium MPV in next 2 months, a rebadged Innova!

The premium MPV will be placed above Maruti Suzuki's own popular MPV, Ertiga

Housing, auto drive personal loan growth in January, says RBI data

Growth in personal loans accelerated to 20.4 per cent annually in January 2023 largely driven by housing' and vehicle loans', according to data released by the Reserve Bank on Tuesday. The growth in the personal loans segment was 12.8 per cent in January 2022. The data on sectoral development of bank credit in January 2023 showed that the personal loan outstanding on January 27, 2023, was Rs 39.59 lakh crore as against 32.87 lakh crore in a year ago. Data further revealed that housing loan outstanding was Rs 18.88 lakh crore in January this year as against Rs 16.36 lakh crore a year ago. The loan outstanding in the vehicle segment was nearly Rs 5 lakh crore in January 2023 against Rs 3.95 lakh crore in January 2022. On a year-on-year (y-o-y) basis, non-food bank credit registered a growth of 16.7 per cent in January 2023 as compared with 8.3 per cent a year ago. Credit growth to agriculture and allied activities improved to 14.4 per cent (y-o-y) in January 2023 from 10.4 per cent

Hero MotoCorp to hike prices from December 1; stock gains nearly 4%

The company said it will increase the prices of its motorcycles and scooters by up to Rs 1,500, with effect from December 1, due to inflationary cost pressures

Indian techies writing 35% of 100 mn lines of code for the driverless car

Global auto Tier-1 firms already have 50,000-55,000 software engineers working in India, OEMs have another 25,000

Uber, Ola, Rapido continue auto services despite Karnataka govt's ban

Bengaluru is estimated to have about 200,000 autorickshaws out of which around 100,000 offer services through ride-hailing platforms

Macro issues not impacting demand: Mercedes India CEO Martin Schwenk

With the launch of the EQB by year-end, Mercedes will have a portfolio of four EVs. It expects a fourth of its sales in India to come from electric in the next five years

Demand for luxury cars in India rises to a new high, buyers getting younger

The sale of supercars, costing above Rs 2,5 crore, is set to be 600-650 in 2022. This is expected to fetch Rs 1,200 crore to the auto companies

Auto Sales Report July 2022: Toyota breaks their sales record

Auto Sales Report July 2022: Toyota and Maruti Suzuki showed positive growth, while Kia and MG Motors shows a negative trend. Check out the Auto sales report July 2022 insights

Slowdown bites industry in Haryana; demand down 80%, 95k lose jobs: Report

From Rohtak to Bahadurgarh and Sonipat to Panipat, production at industrial units badly hit, says a media report

Bajaj Auto Q1 results: How was company's performance in last four quarters

In Q4FY22, Bajaj Auto recorded a net profit of Rs 1,468.95 crore, up over 250 crores from the Q3FY22

Ola Electric slips to 4th place with 5,753 e-scooter registrations

Ola Electric's registration figures have fallen by 33 per cent on the last day of June compared to the last day of May